School of Profit

Overseas mortgages | Get a mortgage abroad in one of 31 countries

Mortgages abroad for non-residents

The most common question to Global Property Guide is: 'In what countries can we get an overseas mortgage, and on what terms?

If you buy abroad, there are two ways of getting a mortgage abroad if you're non-resident, or have no local income:

Ask a local bank or mortgage provider. See list of mortgages available in different countries below.

But in cold practical fact, it may be difficult for a person with no current taxable income in the country to get mortgage. Mortgages abroad for non residents can be difficult!

Use an overseas mortgage broker. We suggest that, rather than trying to approach a local mortgage company, perhaps in a country where you may not speak the language confidently or one in which you are not domiciled or familiar, you should use a specialist overseas mortgage broker.

These companies are familiar with the local bureaucracy and language and will work to find you the best mortgage as well as look after all negotiation and paperwork. They have experience in providing mortgages abroad for non-residents, and have access to several local companies, so will give the borrower a broad choice when seeking the right overseas mortgage.

We've looked at several companies which provide mortgages abroad. We recommend Connect Overseas as a good source of mortgages abroad for non-residents, partly because of their wide overseas mortgage country coverage (see list of countries at right).

Two extra things:

If you know of other companies which offer overseas mortgages to non-resident foreigners in countries not yet covered (see table to right), please email us.

Also, we keep an eye on companies we recommend. So – keep us informed!

Information on the terms typically offered by local mortgage providers

GLOBAL PROPERTY GUIDE MORTGAGE MARKET INDICATORS

COUNTRY

MORTGAGE MARKET STRUCTURE1

LTV OF NEW LOANS (%)2

TYPICAL LOAN TERM (YEARS)3

MORTGAGE DEBT (% OF GDP)4

HOME OWNERSHIP RATE (YEAR OF CENSUS)5

Algeria

..

90

30 (max)

1.5

63 (1985)

Argentina

Variable

80 - 90 (avg.)

12 - 20; 20 (max)

1.7

68 (1990)

Australia

Variable

90 - 100

25

71.0

69 (2004)

Austria

Fixed

60 (avg.)

25

26.1

57 (2001)

Bangladesh

..

50-70 (avg.)

<15

2.5

86(2001)

Belgium

Fixed

100

20

28.3

68 (2001)

Bolivia

..

70 (avg.)

15 - 20

9.5

60 (1997)

Brazil

Variable

75 - 100

20 (max)

5.0

75 (2000)

Bulgaria

..

90

30

4.7

97 (2002)

Canada

Fixed

75 or 95

25

43.0

66 (2004)

Chile

Variable

75

8 - 20

16.0

73 (2002)

China

Variable

80

10 - 15; 30 (max)

12.0

80 (2006)

Colombia

Variable

70

30 (max)

12.0

61 (1997)

Croatia

Fixed/ Variable

50

20 or 30

10.0

61 (1999)

Czech Rep

Fixed (Mixed)

100

20

5.5

47 (2001)

Denmark

Fixed

80

30

87.9

53 (2004)

Egypt

Variable

60

10 - 15

3.0

69 (1996)

Estonia

Variable

90

30

22.0

85 (2002)

Finland

Variable

75 - 80 (avg.)

15 - 20

35.7

64 (2005)

France

Fixed

100

15 - 20

29.0

56 (2002)

Germany

Fixed

80

20 - 30

54.0

43 (2002)

Ghana

..

80

20 - 25 (max)

0.5

57 (2000)

Greece

Variable

55 (avg.)

15

17.6

74 (2004

Honduras

Variable

70

20; 30 (max)

..

72 (2001)

Hong Kong

Variable

90

15

44.0

57 (2004)

Hungary

Variable (Mixed)

70

5 - 35

11.0

92(2003)

India

Mixed

85

20 (max)

2.0

87 (2001)

Indonesia

Variable

90

8, 10, or 15; 20 (max)

5.8

96 (2001)

Iran

70 - 80

18 (max)

3.0

73(1996)

Ireland

Variable

100

20

59.2

77 (2004)

Israel

Variable

70 - 95;
80 (avg.)

15, 30 (max)

22.0

74 (2002)

Italy

Variable (Mixed)

80

5 - 20

15.0

80 (2002)

Japan

Fixed (Mixed)

70 - 80 (avg.)

20 - 30

36.4

61 (2003)

Jordan

Variable

80 - 90 (avg.)

20 (max)

11

66 (2004)

Korea

Variable

70

3; 20 (max)

2.1

54 (2000)

Latvia

Variable

100

30

14.0

60 (2000)

Lithuania

..

100

25

12.6

87 (2002)

Luxembourg

Variable

80 (avg.)

20 - 25

33.5

67 (2002)

Malaysia

Variable

80

30 (max)

31.5

85 (1998)

Mexico

Variable

100

10 - 15

11.0

79 (2000)

Morocco

..

70-100

25 (max)

7.0

69 (1985)

Netherlands

Fixed

125

30

100

55 (2005)

New Zealand

Variable

60 - 80

30

78.2

68 (2001)

Norway

Variable

70

15 - 20

45.0

77 (2001)

Pakistan

80

20 (max)

0.7

81 (1998)

Peru

Variable

90

25

2.5

79 (2001)

Philippines

Variable

70 - 80 (avg.)

20 - 30 (max)

12

71 (2000)

Poland

Variable

100

5 - 32.5

5.2

75 (2004)

Portugal

Variable

90

25 - 30

50.7

75 (2001)

Romania

Variable

75

10 - 20

1.8

97 (2002)

Russia

Fixed/ Variable

90; 64 (avg.)

15 - 20

0.6

64 (2003)

Saudi Arabia

..

..

..

1.0

45 (2000)

Singapore

Variable

80

30 - 35

61.3

92 (2005)

Slovakia

Variable

75

5 - 15

5.9

76 (2001)

Slovenia

Variable

50 (avg.)

10

3.5

82(2002

South Africa

Variable

80

10 - 20

26.1

56 (2001)

Spain

Variable

100

15 - 20

40.2

83 (2004)

Sweden

Variable

80 - 95 (avg.)

30 - 45

50.3

49 (2003)

Switzerland

Fixed

80

15 - 20

130

31 (2003)

Taiwan

Variable

70

25

26.0

87 (2004)

Thailand

Variable

80; 90 - 100

10 - 20; 30 (max)

16.0

82 (2000)

Tunisia

Variable

80

..

6.0

80 (1989)

Turkey

Variable

75 - 80

10

2.5

64 (2000)

UAE (Dubai)

Variable

90; 60 (avg.)

15 - 25

..

..

UK

Variable

110

25

64.0

71 (2004)

Uruguay

Variable

70

25 (max)

9.8

81 (2004)

US

Fixed

76 (avg.)

30

69.4

69 (2004)

Venezuela

Fixed

70 - 75

25 (max)

0.7

76 (1990)

1Mortgage Market Structure shows the predominant type of mortgage loans. Mortgages with interest rates fixed for more than five years are regarded as Fixed rate mortgages. Variable rate mortgages are mortgages with interest rates fixed for less than five years. In several countries, mortgages interest rates are fixed for 1 to 3 years before adjusted (these mortgages are still considered variable rate mortgage). In Chile, Colombia and Mexico, most mortgages are indexed to inflation (i.e. nominal interest rate plus inflation). Since the actual amount of amortization is subject to fluctuations due to inflation, these mortgages are also considered variable rate mortgages.2Loan to Value (LTV) Ratio is the amount of the loan that can be taken as a percent of property value. A higher LTV ratio implies a lower down payment or equity to be produced by the borrower.3Loan Term is the number of years before the loan is paid. A longer loan term implies a smaller amount of periodic amortization.4Mortgage Debt as percent of GDP is a measure of the depth of the housing market. Higher ratios are correlated with 1) faster and deeper financial innovations in the mortgage market; and 2) more liberal financial markets. Latest data available.5Home Ownership Rate shows the number of households which own their dwelling units as a percent of total number of households. In some cases, the figure represents the number of owner occupied housing units as a percentage of total occupied units.